According to SeneNews, Moody’s downgrades Senegal’s sovereign rating to Caa2
SeneNews reports that Moody’s set Senegal’s sovereign rating at Caa2 as of 28 August. The outlet links the decision to mounting budgetary pressures and the absence of an IMF programme.
Senegal’s sovereign rating was set at Caa2 by Moody’s as of 28 August, according to information published by SeneNews. The outlet describes the downgrade as a signal of growing budgetary pressures facing the country.
According to SeneNews, the absence of a programme with the International Monetary Fund is also a relevant factor. This situation would increase the risk of default, according to the same article.
As the full SeneNews publication is reserved for subscribers, the available information does not specify Moody’s detailed reasons or any measures that may be considered by the Senegalese authorities.
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